{"id":2207,"date":"2008-05-29T13:51:54","date_gmt":"2008-05-29T17:51:54","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=2207"},"modified":"2008-05-29T13:51:54","modified_gmt":"2008-05-29T17:51:54","slug":"ryprk-to-be-redeemed","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=2207","title":{"rendered":"RY.PR.K to be Redeemed"},"content":{"rendered":"<p>Royal Bank <a href=\"http:\/\/www.rbc.com\/newsroom\/20080529shares.html\">has announced<\/a>:<\/p>\n<blockquote><p>that on August 22, 2008, it will redeem all of its issued and outstanding Non-Cumulative First Preferred Shares Series N (the &#8220;Series N shares&#8221;) for cash at a redemption price of $25.00 per share.<\/p>\n<p>There are 12,000,000 shares of Series N outstanding, representing $300 million of capital. The redemption of the Series N shares will be financed out of the general corporate funds of Royal Bank of Canada.<\/p>\n<p>Separately from the redemption price, the final quarterly dividend of $0.29375 per share for the Series N shares will be paid in the usual manner on August 22, 2008 to shareholders of record on July 24, 2008.<\/p><\/blockquote>\n<p>RY.PR.K has been a member of the <a href=\"http:\/\/www.prefblog.com\/wp-content\/uploads\/2008\/05\/j4_080528.pdf\">HIMIPref&trade; Operating Retractible Index<\/a> continuously since it was issued 1998-4-27. It&#8217;s habit of trading with a low or negative Yield-to-Worst has been an <a href=\"http:\/\/www.prefblog.com\/?p=192\">annoyance for quite some time<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Royal Bank has announced: that on August 22, 2008, it will redeem all of its issued and outstanding Non-Cumulative First Preferred Shares Series N (the &#8220;Series N shares&#8221;) for cash at a redemption price of &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-2207","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2207","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=2207"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/2207\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=2207"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=2207"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=2207"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}